A partner at the consulting division of Laurent Collet spoke high of the trial: “We think it’s good to have our employees assess this new technology.” Collet further stated that there is no intention to permit customers to settle their dues in Bitcoin anytime soon.
Notably, PwC Luxembourg, another renowned ‘Big Four’ accounting firm, has decided to accept Bitcoin as payment from October 1. Collet clarified that Deloitte is giving precedence to utilize blockchain in its operations related to fund administration i.e., to process transactions, and not carrying out settlements using Bitcoin.
The primary ground is that fund transfer would speed up, making audits simple without any involvement of intermediate. He finished by saying “This is where we focus our attention right now in linking this new technology with the needs of the Luxembourg industry.”
Specifically, an economist from the Bank for International Settlements has also suggested new methods of overseeing financial threats via distributed ledger technology.